Tag: Cryptocurrency

Where are all the Blockchain developers? 6 reasons companies struggle to recruit Blockchain engineers.

It almost sounds like a corny one-liner: “What’s the difference between the Higgs-Boson particle and a top Blockchain Engineer?” (They actually found the Higgs-Boson.)

If you’re here, you likely already understand the exciting (and yet enormously frustrating) dilemma that the Blockchain startups and Fortune 500 organizations alike are facing…The Blockchain developer shortage. Blockchain is arguably the most important technological development since the World Wide Web. So if it is such a big deal—Why aren’t there any bloody Blockchain developers?

A deeper look reveals a more complex issue. Though Blockchain developers represent but a fraction of a percentage

“Blockchain job posts on LinkedIn have tripled in the last 12 months, and demand is so strong that top developers earn more than half a million dollars per year.”

point of the total software developer population worldwide, highly experienced Blockchain developers are easy to spot contributing to open source repositories, launching a new ICO or speaking at Blockchain conferences held throughout the globe. The vexing aspect of this dilemma is not that Blockchain engineers have all up and done a Satoshi Nakamoto on us…it’s that that most of the aforementioned Blockchain architects and engineers are simply unavailable. Here’s why:

Demand for Blockchain talent is soaring:As early as June 2017, Bitcoin magazine reported that “Blockchain job posts on LinkedIn have tripled in the last 12 months, and demand is so strong that top developers earn more than half a million dollars per year”. Job analytics firm Burning Glass Technologies put more tangible numbers to that in a study, which found a 115% increase in job postings between 2016 and 2017 for smart contract developers.And demand is growing rapidly. CoinDesk reported that posts for Blockchain developers on Indeed.com increased by an astounding 631% between Nov. 2015 to Dec. 2017! In Dec. 2017, ComputerWorld reported that “Blockchain development is the second-hottest skill in the job market today, growing more than 200% since this time last year.” (Care to have a stab at what was number three? “Cryptocurrency engineers.”)

Blockchain programmers aren’t looking at job postings
Blockchain Developers Inc’s own review of LinkedIn job postings on December 31, 2017 turned up nearly 4,000 open positions containing the word “Blockchain,” with at least half of those describing “Blockchain Developer” or “Blockchain Engineer.” And yet, top Blockchain programmers aren’t looking for jobs. (They’re far too busy saving the World.) These crypto-anarchist types do not march to the beat of the typical career development drum, and in most cases won’t join (or leave) a project as a way up the career ladder. So using old-school methods to recruit Blockchain talent to your organization is a bit of a fool’s errand.

Blockchain programmers also neglect LinkedInDue to its robust search features and comprehensive career profiles, LinkedIn is the “go-to” resource for HR departments and professional recruiters alike. And it works wonders in other industries. But Blockchain programmers are notoriously unconventional. Something about the “look at me” manner of LinkedIn makes iconoclastic Blockchain engineers draft minimalist profiles that your ten-year-old might have banged out—if they have LinkedIn profiles at all. Typical Blockchain developers are singularly focused on disrupting the world, not on grooming their LinkedIn profiles. Noted Blockchain investor and speaker Zach Piester put it succinctly: “You won’t find the great candidates through LinkedIn and Google.”

Most Blockchain developers live elsewhere
A casual search for contractors with Blockchain skills on poplar platforms like Upwork and Guru reveal most available Blockchain developers listed in Ukraine, Russia, Pakistan and India. A search of LinkedIn produces similar results, with developers turning up in India, China, Japan, Russia, Ukraine, Lithuania, and Poland. Fintech recruiting industry executives typically agree that a disproportionate share of Blockchain developers come from Eastern Europe and Russia. And why shouldn’t it be that way? The total US population of 325 million is but 4% of the global total, with China and India exceeding a billion each. Such is the nature of Blockchain that no country can claim any significant first mover advantage

“I don’t know any good Ethereum developer that isn’t a millionaire. There’s a gold rush amongst developers to learn the coding language of money.”

Blockchain developers don’t need to workAs the anonymous developer of Blockchain Freedom Streaming, a full live streaming platform, said: “Most crypto experts made it rich years ago. If they’re writing or programming for money, there’s something wrong with them.” Aragon co-founder Luis Cuende agreed: “I don’t know any good Ethereum developer that isn’t a millionaire.” That makes for a bit of a challenge for organizations who would leverage deep pockets to recruit Blockchain developers. Money (whether fiat or crypto-currency) is not enough for this Libertarian-leaning gang. “What got me into Blockchain was my prior search for solutions to world problems,” Bitbay founder David Zimbeck told us in January 2018. “Money means nought to me.”

Blockchain developers have their own companiesIn a similar way, top Blockchain programmers dedicate their energies and skills to follow their own dreams. Says Piester, “Quite a few are likely running their own startups. Therefore, they won’t want to drop all their ongoing projects to come work for your company.” “Everyone,” says Blockchain programmer and instructor Jimmy Song “wants ninja engineers who can pull a rabbit out of a hat, but they are unicorns. The ones I know are either founders, co-founders, CTO’s or in some senior engineering role being paid a ransom.”So, yes— finding a good Blockchain developer is a challenge. They’re busy, they’re rich and they’re idealistic. They neglect their LinkedIn page, stand oblivious to job postings and are head-down obsessed with their own vision and mission. But they DO exist, and they CAN be lured over to your project, if it is a worthy one. You just need to walk an unconventional path. (For more on that, see our article “How to Recruit Blockchain Developers”)

Meanwhile, take heart—it may have taken 40 years, but even the Higgs-Boson particle was found eventually!

We here at Blockchain Developers, Inc. are world-class at helping you find and hire the talented Blockchain developers you need to grow. Just fill out our contact form, and we’ll be happy to see if we can help!

Need to hire Blockchain talent, but new to the industry? Not sure what makes Blockchain developers different from other engineers? Learn the basics here.

Back in the early 1990’s, when the Internet had just become “a thing” for most people, connection speed was so slow and html code was so limited that it did not require any significant level of technical basis to understand what a Web Developer did. He or she was the guy who wrote html elements like <strong> and <br>, right?

For talent recruiters within and out of the Blockchain sphere, however, the world has become more complex in the past 25 years. A Blockchain, unlike a website, involves P2P networks, nodes, cryptography, token exchange platforms and other more sophisticated concepts. More importantly, because Blockchain systems for the most part are built not on a single programming language like html but on a diversified technology stack that is partly dependant upon developer preference, there is no single programming language or identifying factor that definitively distinguishes a Blockchain developer from a general web or app developer, making the term “Blockchain developer” a misnomer…almost.

So who are these Unicorn-like “Blockchain Developers” then?

To state the obvious, first and foremost, a Blockchain developer is a software engineer who solely or in concert with other developers creates or enhances a Blockchain system. If you found your way here, you almost certainly already know what Blockchain itself is, but if not, here’s a cute explainer video that does a pretty good job.

“By the end of 2017, the total number of software engineers with any experience working on Blockchains was estimated at under 30,000 (out of a global population of general software developers numbering more than 18 million.”

There is a substantial gap, of course, between understanding the basics of Blockchain and actually identifying a competent Blockchain developer. By the end of 2017 the total number of software engineers with any experience working on Blockchains was estimated at under 30,000 (out of a global population of general software developers numbering more than 18 million). Of that amount, probably only a few thousand had more than a year or two of experience working on Blockchain development, and of THAT amount, it’s likely that very, very few were highly proficient in the range of skills, programming languages and experience that it takes to create entirely new Blockchain systems.

What DOES define a Blockchain developer is a set of skills and experience in the some or all of the following Blockchain concepts…

Peer-to-Peer (P2P) networking

Cryptography and Crypto-currencies

Consensus algorithms

Risk analysis, data security, anomaly detection

Smart contract development

Distributed ledger / Distributed application development

Distributed storage

Defining the attributes of a Blockchain developer might also involve identification of some of the most popular programming languages that developers are using to build Blockchain systems…

C++

Javascript

Geth/Go

Python

Solidity

React

Rust

Some of the most popular existing Blockchain platforms…

Augur

Bitcoin

Corda

Eris:db

Ethereum

HydraChain

Hyperledger

MultiChain

OpenChain

Steem

Stratis

Or a few of the tools, programs, frameworks, protocols, compilers, libraries, plugins, services and implementations related to Blockchain development…

Dapple

Embark

IPFS

Metamask

Mist

MongoDB

Node.js

NoSQL

Parity

Pudding

Solc

Swarm

Tierion

Truffle

Web3.js

Whisper

So a Blockchain Developer is a person who has all of these skill sets and knows all these programming languages and tools?

Not so fast. It is extremely unlikely that any one individual stands in possession of knowledge and experience in ALL of these softwares, protocols and platforms. Blockchain development in specific, and software development in general, do not work like that. The languages and tools used depend upon industry, use case, integration requirements, developer preferences and legacy systems. On an individual basis, what a Blockchain developer knows and does also depends upon that Blockchain engineer’s focus.

“What is important in considering Blockchain candidates is that they DO have a strong understanding of and experience with the basic Blockchain development concepts and protocols and strong experience in at least SOME of the key languages and tools preferred for Blockchain development.”

Is he or she a back end Blockchain developer? front end Blockchain developer? or full stack Blockchain developer? A Blockchain DevOps Engineer? A Blockchain UX Designer? Or the rarest specimen of all—a true Blockchain CTO or Blockchain Senior Architect, who will devise genuinely new innovations, choose the technology stack and guide the entire development team?

What is important in considering Blockchain candidates is that they DO have a strong understanding of and experience with the basic Blockchain development concepts and protocols and strong experience in at least SOME of the key languages and tools preferred for Blockchain development. In most cases, your Blockchain developer should also have a strong track record collaborating in open source communities like Stackoverflow and Github.

Well, then what is the difference between a Blockchain developer, a Bitcoin developer, an Ethereum developer, a Smart Contract developer, a Solidity developer, and a DAPP developer? (And which one do I need?)

In simple terms, a Bitcoin developer works on Blockchain systems using the Bitcoin protocol and platform, an Ethereum developer works on Blockchain systems using the Ethereum protocol and platform, a smart contract developer works on the smart contract creation aspect of Blockchain systems, using a language like Solidity or Simplicity, a Solidity developer specifically uses the Ethereum based Solidity program to create smart contracts, a DAPP developer creates front end applications in any language which operates autonomously on a decentralized network, and all of the above are in one form or another Blockchain developers.

Again, which roles a Blockchain employer needs to fill depends entirely upon the Blockchain company’s project(s), the existing team and skillset, and the preferred development platform technology stack and implementation.

We here at Blockchain Developers, Inc. are world-class at helping you find and hire the talented Blockchain developers you need to grow. Just fill out our contact form, and we’ll be happy to see if we can help!

With Blockchain engineers in high demand, what’s the cost to hire a Blockchain dev?

According to Boston-based job data analytics firm Burning Glass Technologies, the median income for Blockchain developers in the United States was up to 30% higher than that of general software developers in 2017—and specifically, $158,000 in high-tech epicenters like New York and Silicon Valley. In Europe, cryptocurrency wallet company Eidoo’s CEO Thomas Bertani said that Blockchain developers are earning $10,000 to $15,000 monthly, while Crypto-Valley Association founder and former UBS CIO Oliver Bussman put Blockchain developer salaries in mid 2017 at “£200,000 to £300,000” a year. “That’s not a lot,” he added, ”Demand for these skills is high. To get the talent, you have to pay.”

Lies, damned lies, and statistics:

“Former UBS CIO Oliver Bussman put Blockchain developer salaries in mid 2017 at “£200,000 to £300,000” a year. “That’s not a lot,” he added, ”Demand for these skills is high. To get the talent, you have to pay.”

Mark Twain famously popularized the saying (that he himself attributed to British Prime Minister Benjamin Disraeli) “There are three kinds of lies: lies, damned lies, and statistics.” What every honest statistician understands is that median figures can be misleading— especially when you consider the chasm between those highly experienced (and highly rare) Blockchain developer veterans and the Satoshi-come-latelies who have slapped Blockchain on their resume in the last 6-12 months. The latter greatly outnumber the former, making the statistical median Blockchain developer salary deceptively low.

Making matters even more opaque, earnings figures for top level Blockchain talent typically do not take into account compensation in the organization’s own tokens nor perhaps in Bitcoin, Ether or other rapidly appreciating crypto-currencies. Hiring a software engineer with a Blockchain project or two under their belt is indeed possible for $80-$150/hour as of the time of this writing, but as demand gets hotter and hotter, and as more developers venture into Blockchain, it is really hard to predict which way the market will go.

As for Senior Architect and CTO level Blockchain engineers, currently the sky is the limit. Job postings for Lead Blockchain Developers were listed at $250,000 on dice.com in January 2018, and we should not be surprised to see base compensation offers of $300-$500k/year for the most important Blockchain roles in 2018. A Financial News story concurs with this target, stating that top Blockchain salaries are already as high as $650,000/year.

Blockchain developers are in short supply.

There are three phenomenon driving the surge in cost for Blockchain developers. The first, of course, is the limited supply of experienced Blockchain Developers. Most estimates put the number of Blockchain developers worldwide in the low tens of thousands, with the truly experienced and talented amongst them numbering no more than 5,000. That amounts to approximately just a couple hundredths of a percentage of all 18.5 million software developers worldwide.

The field is young and the skill set needed to engineer Blockchain systems is complex. It requires knowledge of

Cryptography, Peer-to- peer networking, Distributed storage, Consensus algorithms, Smart Contract development and more relatively recently advanced topics, plus an expert grasp of up to two dozen programming languages, tools, frameworks and platforms. (for more on this, see our article “What is a Blockchain Developer?”) It takes a diverse set of skills to achieve expert status in Blockchain. It is not just hard skills that are important. Would-be Blockchain engineers must also be well rounded and analytical, perseverant and passionate.

As BitBay founder David Zimbeck shared with us in our feature article: “Becoming Blockchain: Interview with BitBay Founder David Zimbeck,” he spent 93 straight sixteen-hour days in a trailer in North Dakota gobbling down Taco Bell burritos and Mountain Dew before he was able to produce his first Blockchain prototype. That kind of single-minded dedication is not for everyone.

Demand for Blockchain developers is sky high…

“With the crypto-coffers of Blockchain competitors filled to the brim, and top Blockchain talent in desperately short supply, there will continue to be upward price pressure on Blockchain developer salaries for some time to come.”

The second condition driving up salaries is of course simply the high demand for Blockchain developers. There are now thousands of Blockchain startups (that we know of), with more coming on the scene every week. A search we conducted for the word “Blockchain” at the end of 2017 turned up nearly 4,000 open job positions worldwide containing the word “Blockchain on LinkedIn, with at least half of those describing “Blockchain Developer” or “Blockchain Engineer.”

Burning Glass Technologies released findings in October 2017 confirming a greater than 115% year-on-year increase in the number of job openings for Blockchain roles, with predictions that this growth would continue to be exponential.

…and the fiat is flowing!

Meanwhile, Blockchain startups are far from cash-strapped. The space is white-hot, with Venture Capitalists shoveling in hundreds of millions to those promising crypto-ventures willing to take it. The real money, though, of course is coming in the recently popularized form of Initial Coin Offerings. Blockchain ventures raised around 4 billion in ICOs in 2017 alone. (That’s to say nothing of the capital gains made from crypto-currency appreciation!) With the crypto-coffers of Blockchain competitors filled to the brim, and top Blockchain talent in desperately short supply, there will continue to be upward price pressure on Blockchain developer salaries for some time to come.

Money really isn’t everything…but ideas might be.

If the adage is true in general that “money isn’t everything,” that appears to be doubly true for largely Libertarian-leaning Blockchain pioneers. If your mission is only to make money, you may find yourself struggling considerably to recruit talented Blockchain engineers, many of whom could already retire several times over on the strength of stupendous growth of crypto-currencies in the past year or so. “I don’t know any good Ethereum developer who isn’t a millionaire” quipped decentralized organization platform Aragon founder Luis Cuende memorably.

Many Blockchain engineers are self-styled crypto-anarchists, who believe the Blockchain will make the world more harmonious, rid traders from government interference, cease corruption, shatter borders, and perhaps even end war. “What got me into Blockchain was my prior search for solutions to world problems,” Bitbay founder David Zimbeck told us in January 2018. “money means nought to me. I want to lead a self-sufficient life. After programming, I want to be a builder or have a farm”.

Whether it’s Bitcoin, Ether, Ripple or fiat currency, money is really only one small piece of the puzzle. Of greater import to many Blockchain developers are the unique challenges of your project, and its potential impact on the World. Prominent venture capitalist and Ethereum founding team member Steven Nyerhoff stated “As an advisor to Ethereum, I can personally tell you that people were fighting to get onboard there. They had no problems getting qualified programmers.” It is a far better thing these days to have an under-funded project with real prospects to positively disrupt the World than a forgettable concept whose best feature is a healthy checkbook. (For more on what Blockchain ventures can do to attract the best Blockchain talent, see our feature article “How to Recruit Blockchain Developers.”)

The bottom line is this: Blockchain developers aren’t cheap. But if you really need a big budget to recruit a Blockchain developer, then you probably can’t afford one, at any cost.

We here at Blockchain Developers, Inc. are world-class at helping you find and hire the talented Blockchain developers you need to grow. Just fill out our contact form, and we’ll be happy to see if we can help!

Bitcoin developers are rare, numbering only a few thousands really skilled ones. If you want to find and retain the best Bitcoin software engineers, you’ll want to know some tricks to get them.

The A-Z of Bitcoin Developers

First, Bitcoin developers fall into three fields.

There are those who….

Build applications that interact with your blockchain: These are programmers who know web development and popular libraries like ReactJS. They don’t need specialized blockchain knowledge.

Build on an existing framework (usually in the form of smart contracts): These are smart contract developers, with a background in programming, security and software testing. These developers tend to know IPFS/Filecoin, Oracles, token models, state channels, and the like.

These developers build a blockchain from scratch: They are full-stack developers with a strong background in lower-level programming languages (e.g., Java, OCaml, and C#), distributed systems and cryptography.

So, essentially your search boils down to what you want your Bitcoin developer to do. Once you know that, the rest is easy.

Where to Find your Bitcoin Developers

The “regular” Bitcoin engineer who improves your apps

You’ll want programmers who know web development and popular libraries like ReactJS. They don’t need specialized blockchain or Bitcoin knowledge.

You’ll want Solidity developers, with a background in programming, security and software testing. These developers should be familiar with IPFS/Filecoin, Oracles, token models, state channels, and the like.

You may want to search LinkedIn for programmers that have these skills, scour relevant subReddits or place a cheap Reddit ad on crypto-subs.

The highly uncommon Bitcoin blockchain builder

This is the rarest sort of engineer to find. You’ll want a full-stack developer with a strong background in lower-level programming languages (e.g., Java, OCaml, and C#), distributed systems and cryptography.

Here’s How to Motivate Terrific Bitcoin Developers to Work for You

Qualifications for your Bitcoin software engineer include the following:

A solid understanding of code and programming. You’ll want a backend and frontend developer, who knows codebases like Java, C++, Ethereum Solidity, Python and more. You’ll want them to have experience working with these languages in professional settings. Such Bitcoin developers also need to be able to program high-quality code for Ethereum or Bitcoin blockchains (at least), encode smart contracts and digital tokens, and master game theory and economic principles. They’ll need to have experience in areas like fixed income instruments, currencies, and commodities (FICC), equities, payments processing, and wholesale credit.

Your dream Bitcoin developer frequents bitcoin development communities, chats on hackathons, patronizes online and offline meetings, is an excellent multitasker and handles challenges. More so, Bitcoin engineers, as with all blockchain engineers, must be open to change and willing to learn. “You can’t just say ‘I am a highly specialised blockchain guy’ because that actually doesn’t really mean anything, or say ‘I am really good at Eris’,” explains Seamus Cushley, Director of PwC, blockchain consulting services, continuing to explain that, “Eris may not be here tomorrow: It may become the underpinnings of the globe or they may not. So it is the ability to change which is important.”

Places to Look for the Bitcoin Programmer?

Look for full-time Bitcoin software engineers on online blockchain-related forums like Bitcointalk or relevant Reddit subgroups. You may may also want to consider platforms like Gitter, the preferred chat app for developers, or crypto channels on Slack or Discord. You’ll find blockchain engineers on blockchain meetups and in developer conferences like Ethereum Devcon (i.e., Ethereum Foundation Developers Conference).

Bottom Line

You’ll need to learn the rudiments of Bitcoin technology to find them. And even then you may fail, especially if you’re hiring a Bitcoin software engineer to build a private ledger for a bank – these individuals believe in decentralizing the system! You have to be extremely creative, resourceful, and almost emphatic.

According to former chief information officer at UBS and founder of Bussmann Advisory, Oliver Bussmann, there are only about 20,000 such individuals in existence. William Mougayar, reckoned that there are even less, estimating that there are approximately “5,000 developers dedicated to writing software for cryptocurrency, Bitcoin, and blockchain in general.”

Then again: Look hard enough and try hard enough, and you may find at least one or two great Bitcoin developers who may consider giving your company a try.

We here at Blockchain Developers, Inc. are world-class at helping you find and hire the talented Blockchain developers you need to grow. Just fill out our contact form, and we’ll be happy to see if we can help!